According to a report published by K33 Research, the cryptocurrency industry has nearly 190,000 employees as of July 2023. This represents a significant increase compared to employment statistics prior to the cryptocurrency mania that began in 2020. Employment in cryptocurrencies in 2021 is even higher at nearly 211,000.
About a third of the cryptocurrency workforce works at exchanges or brokerages, the researchers said. 26% are employed by companies that provide various financial services related to cryptocurrencies.
Six percent work in the NFT space, while 21 percent work for blockchain protocols, analytics, and mining operations. Another 13% of employees work in a cryptocurrency-related job, but don’t quite fit into any other category.
Cryptocurrency workers are overrepresented in the Western world, with around 55% residing in North America and Europe. The U.S. BTC -0.24%-transactions-only-account-for-19-of-illegal-cryptocurrency-activities/">accounts for 29% of the cryptocurrency workforce.
In Asia, India emerged as a leading employer in the cryptocurrency industry, with 20% of the region’s workforce, mostly in developer-related roles. China remains the second largest employer, accounting for 15% of the Asian region.